The Shelby Report: Avoid HR Headaches When Acquiring & Merging Stores
HR & Benefits News is a monthly column by Chris Cooley, co-founder of MyHRConcierge and SMB Benefits Advisors.
Many independent grocers we’ve spoken with have either recently purchased or will soon be purchasing new stores. Whether you are evaluating a potential acquisition or preparing for a merger, HR (human resources) is a crucial, yet often overlooked, consideration.
Here are three important areas that need to be considered to avoid HR headaches when acquiring or merging stores.
Plan & Clearly Communicate to Blend Cultures
What’s the biggest thing I’ve learned in my years of experience with acquisitions and mergers? Their success or failure hinges on whether the cultures of the two companies are compatible. The consequences of culture clashes include workers protecting their territory or working toward different objectives. When this happens, you’re left juggling low morale; unwanted employee turnover and decreased productivity – all while trying to integrate processes.